April 24, 2020
According to the research report titled ‘Global Liquid Crystal on Silicon (LCoS) Market Research Report 2020’, available with Market Study Report LLC, worldwide liquid crystal on silicon (LCoS) market share accounted for USD 1224.1 million in 2020 and is presumed to expand with a CAGR of 5.8% during the forecast period, subsequently reaching USD 1824.3 million by the year 2026.
Growing inclination towards miniaturization of electronic devices along with technological advancements are major factors fostering the demand for LCoS products. Flourishing semiconductor industry and rising penetration of consumer electronics, alongside advancements in aviation & military sector are further aiding the market expansion.
The product offers superior heat efficiency and high resolution image. Liquid crystal on silicon also provides exceptional brightness without comprising the contrast ratio of 2000:1. Rising adoption of head-up displays and vehicular infotainment systems in automobiles along with incorporation of advanced micro displays in aviation sector are driving the growth of liquid crystal on silicon industry.
As per product type, projector segment held 64% market share in 2018 and is poised to record a moderate growth rate during the study period. Increasing utilization of projectors for in-home entertainment, concerts, and sports events is fueling the segmental share. Projectors provide various benefits such as customizable screens, large images without compromising on resolution, portability, eye comfort and compact size.
Based on the application spectrum, consumer electronics segment accounted for 74% consumption share in 2018 and is slated to expand significantly during the projected timeframe. Rising per capita income, technological advancements and evolving consumer lifestyle have enhanced the sales of consumer electronics.
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Considering the geographical landscape, Asia-Pacific liquid crystal on silicon industry is anticipated to showcase decent growth rate through 2026, primarily due to high concentration of major semiconductor and consumer electronics industry in the region. Swift urbanization, escalating disposable income and growing smart home trends are also contributing towards the product popularity in Asia-Pacific.
The major contenders in global liquid crystal on silicon market are Guangzhou Weijie Technology, Magic Leap, Microsoft, Google, Silicon Micro Display, LG, AAXA Technologies, JVC Kenwood and Sony among others.
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